Cloud Stocks: Alphabet Bets on AI

Alphabet aka Google (Nasdaq: GOOG) recently reported its third quarter results that surpassed market expectations. Like Meta, Google is also benefiting from a rebound in digital advertising spend. Despite the growth, the market was not too pleased with the outlook that the company provided, sending its stock falling 7% in the extended trading session.

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Meta’s Cost Optimization Initiatives are Paying Off

Meta (Nasdaq: META), formerly Facebook, recently announced its third quarter results that outpaced market expectations. Digital ad spend has picked up in the recent past, helping Meta’s performance. According to eMarketer, Digital ad spend worldwide will increase nearly 10% to $601.84 billion this year from $549.51 billion in 2022.

Cloud Stocks: ServiceNow’s Stellar Performance Continues

Last week, ServiceNow (NYSE:NOW) reported its third quarter results that continued to surpass market expectations. ServiceNow does not appear to be fazed by macro-economic conditions and provided an outlook that also beat the expectations.

Cloud Stocks: IBM’s Growing Generative AI Investments

IBM (NYSE: IBM) recently announced strong results for its third-quarter. The company continues to grow through investments in generative AI.

Cloud Stocks: Microsoft Begins Monetizing AI

Yesterday, Microsoft (Nasdaq: MSFT) announced its first quarter results that surpassed market expectations. The market was impressed, and the stock gained 4% in the after hours trading session.

People.ai Leverages GenerativeAI to Make Selling Simple

According to a recent report, the generative AI market is expected to explode to reach $1.3 trillion by 2032 from a relatively modest $40 billion in 2022. The more than 40% annualized growth rate is expected to be driven by continued investments in large language models (LLMs), digital ads, and specialized software and services. Sales focused automation platforms such as People.ai are harnessing generative AI’s capabilities to improve the overall efficiency of sales teams globally.

Cloud Stocks: MongoDB Focuses on Verticalized Offerings

MongoDB (Nasdaq: MDB) recently reported its second-quarter results that blew past all market expectations. The market was pleased with its performance and sent the stock soaring 8% in the after-hours trading session.

Cloud Stocks: Klaviyo Tests the IPO Market

According to a recent report, the global marketing technology (MarTech) market is expected to grow at 20% CAGR through 2030 from $325.7 billion in 2022. Recently listed Klaviyo (NYSE: KVYO) is making its mark in the industry.

Analysis of Databricks’ AI Acquisitions

According to a recent report, the Data Science Platforms market is estimated to grow at 16% CAGR to reach $378.7 billion by 2030 from $96.3 billion in 2021. Databricks, a leading data analytics solution provider, is seeing strong growth as well and is gearing up to go public soon.

Cloud Stocks: Oracle Stumbles, but Remains Focused on AI

Oracle (NYSE: ORCL) recently reported its first quarter results that failed to impress the market. The miss in the revenue performance and outlook sent the stock falling 9% in the after-hours trading session.